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Nancy Behrens, assistant vice president for State Farm Insurance, points out that 70 percent of patients in a nursing home are women.

“It makes sense when you look at the fact that women tend to live longer and they tend to be younger than their husbands,” Behrens said.

Long-term care becomes a question of how they want to live in their last years and how they want their family to live.

“There is the emotional toll on families of deciding that it’s time for mom or grandma to go into a nursing home and there is the financial toll,” Behrens said.

In addition to traditional long-term care, this summer, State Farm began offering an option on its universal life insurance where holders can draw up to 2 percent of the policy’s value a year to help pay for long-term care.

“This is where financial planning and help from an agent is key in helping people decide which product is right for them in planning for those years,” Behrens said.

The annual costs of nursing homes range from $37,000 a year in Texas, $45,000 in Illinois and Florida and $98,000 in New York City and the vicinity, according to the Long-term Care Insurance Planners.

When to invest in long-term care insurance is a matter of preference and planning.

“The 50s seem to be the sweet spot when you are still healthy enough to qualify,” Slome said. “When you start getting into your 60s, it becomes too late.”

About one in five applicants for long-term care are turned down by insurers, according to statistics held by Slome’s organization.

However, some insurance experts are saying people should not wait for their AARP card to come in the mail before they start planning.

The 40s are a better age when it comes to buying long-term care insurance because of lower rates.

Although the standard insurance variables apply, including the benefit period, inflation protection and company, a woman in her 40s can save an average of 25 percent on long-term care insurance than a woman in her 50s, according to Behrens.

Also, a catastrophic accident or a medical crisis such as a stroke or cancer could create a need for long-term care insurance for those who are younger. About 40 percent of people using long-term care insurance are under the age of 64, Behrens said.

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